Italy's industrial production experienced a notable decline in July, with the leather-related industries among the hardest hit, according to national statistics agency ISTAT.

The textile, clothing, and leather sectors saw a sharp 25% drop compared to May 2022. Istat pointed to inflationary pressures and reduced consumer purchasing power as key factors in the decline.

The agency's seasonally adjusted industrial production index also recorded a 0.9% drop in July compared to June. On a year-on-year basis, the textile, clothing, leather, and accessories sectors fell by 18.3%, while other sectors also registered significant declines, including the manufacturing of transport equipment (-11.4%) and mining (-5.9%).

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